Sturleymortgages.com Review

Based on checking the website Sturleymortgages.com, it’s crucial to understand the nature of mortgage services, especially from an Islamic perspective, as conventional mortgages involve interest riba, which is strictly prohibited in Islam.

Therefore, while reviewing the website’s legitimacy and features, it’s paramount to highlight that engaging with conventional interest-based financial products like those offered by Sturley Mortgages is not permissible.

This review will assess the website’s professional presentation and information, while strongly discouraging its use for individuals seeking Sharia-compliant financial solutions.

Overall Review Summary:

Website Professionalism: Appears professional with clear navigation and contact information.
Transparency: Provides company registration number, FCA number, and clear disclaimers regarding risks and fees.
Services Offered: Focuses on residential, buy-to-let mortgages, and various insurance products.
Islamic Compliance: Not Sharia-compliant due to involvement with interest riba.
Geographic Focus: Primarily serves Cheshire and Greater Manchester areas, but can assist throughout the UK.
Specialization: Strong focus on self-employed individuals and contractors.
Customer Service Emphasis: Highlights excellent customer service and personal touch.

The website for Sturley Mortgages presents itself as a legitimate and professional independent mortgage broker operating since 2001. It clearly outlines its services, contact details, and regulatory information from the Financial Conduct Authority FCA. This level of transparency is generally a good sign for a financial service provider. However, the core service of offering conventional mortgages and remortgages, which inherently involves interest, renders it impermissible for Muslims. The website also offers various insurance products, which in their conventional forms, often contain elements of gharar excessive uncertainty and riba, making them problematic from an Islamic finance standpoint. Therefore, while the website may appear trustworthy in a conventional sense, its offerings fundamentally clash with Islamic financial principles. For those committed to ethical financial practices, alternatives that align with Sharia principles are essential.

Best Alternatives for Ethical Financial Solutions Non-Mortgage Related, as Mortgages are Impermissible:

Islamic Finance Consultancies: For guidance on Sharia-compliant investments and financial planning, avoiding interest-based transactions.
Takaful Islamic Insurance: Instead of conventional insurance, Takaful operates on principles of mutual assistance and shared responsibility, without interest or excessive uncertainty.
Halal Investment Platforms: Platforms like Wahed Invest offer Sharia-compliant investment portfolios, ensuring your money grows ethically.
Zakat & Sadaqah Institutions: For those seeking to manage wealth ethically through charitable giving and purification, aligned with Islamic principles.
Ethical Banking Services: Banks that offer interest-free banking services and Sharia-compliant financial products.
Islamic Microfinance Institutions: For small-scale, ethical financing needs, often focusing on community development and interest-free loans.
Financial Literacy Resources: Websites and books dedicated to understanding and implementing Islamic financial principles in daily life.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Table of Contents

Sturleymortgages.com Review & First Look

Based on looking at the website, Sturleymortgages.com immediately conveys a sense of professionalism and established presence. The initial impression is that of a credible financial service provider, aiming to build trust with its clientele. The prominent “BUILT WITH TRUST SINCE 2001” statement, alongside the clear identification as independent mortgage brokers, sets a tone of reliability. This visual and textual presentation is critical in the financial sector, where trust is paramount. However, for individuals adhering to Islamic financial principles, this initial positive impression is quickly overshadowed by the inherent nature of conventional mortgage products, which fundamentally involve riba interest.

Website Layout and User Experience

The layout of Sturleymortgages.com is clean and intuitive, offering a straightforward user experience.

Key information is easily accessible, and the navigation menu is well-structured.

Clear Call to Actions: Buttons like “LEARN MORE” and “Contact us” are strategically placed.
Easy Navigation: The top menu includes “Home,” “About Us,” “Mortgages,” “Testimonials,” and “Get In Touch,” making it simple for visitors to find what they need.
Responsive Design: While not explicitly tested across devices, a modern website typically features a responsive design, ensuring it adapts well to various screen sizes.

Initial Credibility Indicators

Several elements on the homepage contribute to its initial credibility, even if the underlying services are problematic from an Islamic perspective.

Years in Business: “BUILT WITH TRUST SINCE 2001” suggests over two decades of operation, implying stability and experience.
Family Business Aspect: Highlighting Garry and Lucy Sturley as a brother and sister team adds a personal touch, which can foster a sense of approachability and reliability for some users.
Regulatory Information: The clear disclosure of “Authorised and Regulated by the Financial Conduct Authority” FCA number: 463639, Company number: 06026729 is a vital sign of a legitimate financial entity in the UK. This indicates they adhere to specific standards and oversight. In the UK, around 59,000 firms are authorized and regulated by the FCA, making this a standard expectation for such businesses.
Physical Address: Providing a registered address 22 Pownall Street, Macclesfield, SK10 1DF further solidifies their physical presence and legitimacy.

The Inherent Problem: Interest Riba

Despite the polished presentation and regulatory compliance, the primary service offered – mortgages – is inherently problematic from an Islamic perspective due to the involvement of interest riba.

Definition of Riba: Riba, in Islamic jurisprudence, refers to any excess or addition taken on a loan over and above the principal amount. It is unequivocally prohibited in the Quran and Sunnah.
Consequences of Riba: Engaging in riba is considered a major sin in Islam, with severe warnings mentioned in religious texts. It is believed to lead to economic instability, social injustice, and a loss of blessings barakah.
Alternatives: For Muslims, the only permissible way to finance property is through Sharia-compliant methods like Murabaha, Musharakah, or Ijarah, which avoid interest and are based on ethical trade and partnership principles. These alternatives are designed to facilitate home ownership without violating religious tenets.

Sturleymortgages.com Cons: The Islamic Perspective

When reviewing Sturleymortgages.com through an Islamic lens, the “cons” are not about the website’s technical functionality or conventional business practices, but rather about the fundamental nature of the services offered. These services, particularly conventional mortgages, are rooted in interest-based transactions riba, which is strictly forbidden in Islam. This renders the entire offering problematic for any Muslim seeking to conduct their financial affairs according to Sharia principles.

Incompatibility with Islamic Finance Principles

The core business model of Sturley Mortgages directly contradicts one of the most fundamental prohibitions in Islamic finance: the prohibition of riba.

Riba Interest: The Quran explicitly condemns riba, emphasizing its exploitative nature and its detrimental effects on individuals and society. For example, Quran 2:275 states, “Allah has permitted trade and forbidden interest.” This makes any financial product involving interest, including conventional mortgages, impermissible.
Gharar Excessive Uncertainty: While the website mentions various insurance products building and contents insurance, life assurance, critical illness cover, income protection, conventional insurance typically involves elements of gharar excessive uncertainty and sometimes riba. Islamic alternatives like Takaful operate on principles of mutual cooperation and shared risk, avoiding these elements.
Ethical Considerations: Islamic finance emphasizes ethical investment, social justice, and real economic activity. Interest-based systems are often seen as promoting speculative wealth accumulation rather than productive investment, leading to wealth concentration and disparity.

Lack of Sharia-Compliant Alternatives

The website does not offer any Sharia-compliant mortgage or financial products.

No Islamic Mortgage Options: There is no mention of Murabaha cost-plus financing, Musharakah Mutanaqisah diminishing partnership, or Ijarah Muntahia Bittamleek lease-to-own, which are the recognized Islamic methods for home financing. This absence means the website cannot serve the needs of the Muslim community seeking permissible housing finance.
Conventional Insurance Only: Similarly, the insurance products listed are conventional, lacking the cooperative and risk-sharing frameworks of Takaful models.

Risk of Engaging in Prohibited Transactions

For a Muslim, engaging with the services offered by Sturley Mortgages would mean knowingly participating in a transaction that is explicitly forbidden.

Spiritual Ramifications: The spiritual consequences of dealing with riba are significant in Islam. It is considered a grave sin that can impact one’s worldly blessings and afterlife.
Erosion of Barakah: Many Muslims believe that wealth gained or managed through riba lacks barakah blessings, leading to instability and lack of true prosperity in the long run.
Community Impact: Promoting or normalizing interest-based transactions, even indirectly, can contribute to the erosion of Islamic economic principles within the community.

Mandatory Disclaimers for Conventional Mortgages

The presence of prominent disclaimers on the website, while legally required for conventional mortgages, implicitly highlights the inherent risks that are part and parcel of interest-based lending. Studentaid.gov Review

“Your home or property may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.” This stark warning underscores the potential for severe financial hardship, a risk exacerbated when interest compounds debt.
“You may have to pay an early repayment charge to your existing lender if you remortgage.” This highlights the additional costs and complexities often associated with conventional mortgage products, which can trap individuals in a cycle of debt.
Unregulated Services: The note that “Buy to Let and Commercial Loan services are not regulated by the Financial Conduct Authority” points to specific areas where even conventional consumer protections might be absent, increasing risk for those products.

How to Avoid Interest-Based Mortgages: Halal Alternatives

Avoiding interest-based mortgages is a fundamental principle for Muslims seeking to adhere to Sharia law in their financial dealings. While Sturleymortgages.com, like most conventional mortgage brokers, offers products that are impermissible, there are well-established and growing Sharia-compliant alternatives available. These methods facilitate home ownership without involving riba interest and are based on ethical trade, partnership, and lease agreements.

Understanding the Islamic Prohibition of Riba

The prohibition of interest riba is a cornerstone of Islamic finance.

It is not merely a moral suggestion but a divine command rooted in the Quran and Sunnah.

Quranic Directives: Several verses in the Quran unequivocally forbid riba. For instance, Surah Al-Baqarah 2:275 states, “Those who consume interest will not stand except as one stands who is being struck by Satan into insanity. That is because they say, ‘Trade is like interest.’ But Allah has permitted trade and forbidden interest.”
Prophetic Sayings: The Prophet Muhammad peace be upon him also condemned riba, cursing those who consume it, give it, record it, and witness it. This emphasizes its severity and the collective responsibility to avoid it.
Economic Rationale: From an economic perspective, Islamic scholars argue that riba leads to wealth concentration, economic instability, and injustice, as it allows money to generate more money without real economic activity or risk-sharing.

Key Halal Mortgage Alternatives

Several models have been developed and are widely used by Islamic financial institutions globally to provide Sharia-compliant home financing.

Murabaha Cost-Plus Financing:
- Mechanism: The bank buys the property at the client’s request and then sells it to the client for a pre-agreed profit margin. The total price cost + profit is paid by the client in installments over a period.
- Key Feature: The profit margin is fixed at the time of sale, making it different from interest, which typically varies with market rates. The bank takes ownership of the asset before selling it.
- Application: Widely used for home purchases where the bank effectively acts as a merchant.
- Example: A bank buys a house for £300,000 and sells it to you for £350,000, payable over 20 years in fixed monthly installments.
Musharakah Mutanaqisah Diminishing Partnership:
- Mechanism: This is a joint ownership agreement where the bank and the client jointly purchase the property. The client then gradually buys the bank’s share of the property over time through monthly installments, effectively diminishing the bank’s ownership until the client owns 100%. During this period, the client also pays a rental fee for using the bank’s share of the property.
- Key Feature: It combines a partnership Musharakah with a diminishing ownership structure Mutanaqisah and a lease agreement Ijarah for the portion owned by the bank.
- Application: Popular for home financing, as it allows for gradual ownership acquisition.
- Example: You and the bank jointly own a £400,000 house. You pay monthly installments, part of which buys a portion of the bank’s share, and part is rent for the bank’s remaining share.
Ijarah Muntahia Bittamleek Lease-to-Own:
- Mechanism: The bank purchases the property and leases it to the client for a specified period. At the end of the lease term, ownership of the property is transferred to the client, either through a gift, a nominal sale, or a separate sale agreement.
- Key Feature: The client pays rent for the use of the property, and this rent does not accrue interest. The transfer of ownership at the end is a separate transaction, ensuring no interest is involved in the lease itself.
- Application: Common for both residential and commercial properties.
- Example: You lease a house from the bank for 25 years. Your monthly payments are rent. At the end of the 25 years, the bank transfers the property title to you for a symbolic amount.

Islamic Financial Institutions Providing Halal Mortgages

Several reputable institutions globally offer these Sharia-compliant home financing solutions.

Al Rayan Bank UK: One of the oldest and most established Islamic banks in the UK, offering Sharia-compliant home purchase plans equivalent to mortgages.
Gatehouse Bank UK: Another prominent Islamic bank in the UK providing ethical home financing solutions.
Guidance Residential USA: A leading provider of Sharia-compliant home financing in the United States, utilizing the Declining Balance Co-ownership Program Musharakah Mutanaqisah.
Meezan Bank Pakistan: A pioneer in Islamic banking, offering various Sharia-compliant products, including home financing, in Pakistan.
Kuwait Finance House KFH: A global leader in Islamic banking, with operations in multiple countries, offering a wide range of Sharia-compliant products.

The Process of Obtaining a Halal Mortgage

While the specific steps may vary slightly between institutions, the general process for obtaining a Sharia-compliant home finance product involves:

Application and Assessment: Similar to conventional mortgages, you apply, and the institution assesses your financial standing.
Property Selection: You identify the property you wish to purchase.
Bank Purchase: The Islamic financial institution purchases the property.
Agreement Signing: You enter into a Murabaha, Musharakah Mutanaqisah, or Ijarah agreement with the institution.
Installments/Payments: You make regular payments according to the agreed terms, which may include a portion for ownership acquisition and a portion for rent/profit.
Ownership Transfer: Upon completion of payments, or at the end of the lease term, the full ownership of the property is transferred to you.

Choosing a halal mortgage means prioritizing religious adherence over conventional convenience. It requires seeking out specialized Islamic financial institutions and understanding the unique structures of their products, which are designed to ensure transactions are free from riba and compliant with Islamic ethics.

Sturleymortgages.com Features: A Conventional Overview

While the previous sections have thoroughly addressed the impermissibility of Sturleymortgages.com’s core services from an Islamic perspective, it’s still useful to examine the features it does offer from a conventional standpoint. This provides context on what traditional mortgage brokers provide and allows for a clearer contrast with ethical Islamic alternatives. The website highlights its specialization and comprehensive service offerings, aiming to meet diverse client needs within the conventional lending framework.

Independent Mortgage Brokerage

Sturley Mortgages emphasizes its role as an “independent mortgage broker.” This is a key feature in the conventional market.

Client Advocacy: The broker acts on behalf of the client, providing advice and recommendations, rather than representing the interests of a specific bank. This means they should prioritize finding the “most suitable product for your circumstances.”
Tailored Advice: They offer “the latest and most up to the minute independent mortgage advice,” suggesting a commitment to staying current with market changes and lender criteria.

Specialization in Self-Employed and Contractors

A notable feature is their particular specialization in mortgages for the Self-Employed and for Contractors. Consoleshop.com Review

Addressing Unique Challenges: Obtaining mortgages can be more complex for self-employed individuals and contractors due to variable income, reliance on accounts, and specific lending criteria. Specialized brokers often have experience navigating these nuances.
Niche Expertise: This specialization suggests they have a deeper understanding of the documents, income verification, and lending policies relevant to these groups, potentially leading to a smoother application process.
Market Need: The self-employed segment represents a significant portion of the UK workforce. in 2023, around 4.2 million people were self-employed in the UK, making this a relevant niche.

Comprehensive Mortgage and Remortgage Services

Sturley Mortgages offers advice and recommendations for a range of conventional mortgage products.

Residential First and Second Charge Mortgages: Covering standard home purchases and equity release or additional borrowing secured against the property.
Buy to Let Mortgages: Specifically for properties intended for rental income, often with different lending criteria and risk assessments than residential mortgages.
Remortgaging Services: Assisting existing homeowners in switching their mortgage to a new lender or a new deal with their current lender, often to secure better rates or release equity.

Integrated Insurance Solutions

Beyond mortgages, the website indicates that they offer a range of insurance solutions tailored to clients’ needs.

Building and Contents Insurance: Protecting the physical structure of the home and its contents against various perils.
Life Assurance Life Cover: Providing a lump sum payment to beneficiaries upon the policyholder’s death.
Critical Illness Cover: Paying out a lump sum if the policyholder is diagnosed with a specified critical illness.
Income Protection: Providing a regular income if the policyholder is unable to work due to illness or injury.
Holistic Approach: Offering both mortgage and insurance services under one roof aims to provide a more comprehensive financial planning service for clients.

Customer Service Emphasis

The website strongly highlights its commitment to excellent customer service.

“Excellent Customer Service Standards”: A clear stated goal of the business.
“Personal Touch”: Emphasized by client testimonials and the family business aspect.
Accessibility: Providing a direct phone number 01625 836 818 and encouraging calls for questions or advice.
Client-Centric Philosophy: “Our philosophy is to provide excellent customer service at all times.”

Sturleymortgages.com Pricing: Understanding the Fee Structure

Understanding the pricing structure of any financial service is critical, and Sturleymortgages.com provides clear information on this front, albeit for services that are impermissible from an Islamic perspective.

Unlike some brokers who might earn commissions directly from lenders, Sturley Mortgages outlines a client-facing fee, which can be seen as a transparency measure in the conventional market.

However, for a Muslim, any cost associated with an interest-based transaction is ultimately irrelevant, as the transaction itself is forbidden.

The Fee for Advice

Sturley Mortgages explicitly states its fee structure on the homepage:

“We may charge a fee for our advice.” This indicates that a fee is not guaranteed for every interaction but is a possibility.
“The fee will not be greater than £375.” This provides a clear upper limit on what a client might be charged. This transparency is generally positive in the conventional brokering industry, as some brokers charge significantly more or have complex fee structures.
“and is only payable if your new mortgage completes.” This is a ‘success-based’ fee model. It means the client only pays if the broker successfully secures and finalizes a mortgage deal for them. This aligns the broker’s incentives with the client’s objective of obtaining a mortgage.

Comparison to Industry Standards Conventional

In the UK mortgage brokerage market, fees can vary widely.

No-Fee Brokers: Some brokers operate on a commission-only basis, earning solely from the lender. While seemingly free to the client, the commission might indirectly influence product recommendations.
Fixed Fees: Many charge a fixed fee, which can range from £200 to £1,000+, depending on the complexity of the case or the broker’s experience.
Percentage-Based Fees: Less common for residential mortgages but sometimes seen for complex cases or commercial loans, where a percentage of the loan amount is charged. For example, a 1% fee on a £200,000 mortgage would be £2,000.
Sturley Mortgages’ £375 Cap: Compared to the broader market, a cap of £375 is relatively competitive and transparent, suggesting they might also earn a commission from lenders, allowing them to keep their client fee low. According to industry data, the average mortgage broker fee in the UK in 2023 was around £500, with some charging up to £1,500.

Hidden Costs and Disclaimers Conventional

While the broker fee is clearly stated, the website also includes crucial disclaimers that highlight potential additional costs associated with conventional mortgages.

Early Repayment Charges ERC: “You may have to pay an early repayment charge to your existing lender if you remortgage.” This is a common feature of many mortgage products, especially fixed-rate deals, penalizing borrowers for switching or overpaying beyond a certain limit within a specified period. These charges can be substantial, often calculated as a percentage of the outstanding loan amount.
Lender Fees: Mortgages often come with various fees imposed by the lender, such as arrangement fees, valuation fees, or legal fees, which are separate from the broker’s fee. While not mentioned directly on Sturleymortgages.com, these are standard in conventional mortgage transactions.

The Islamic View on Fees for Impermissible Services

From an Islamic perspective, even if the fee for advice is low or contingent on completion, the service being advised upon an interest-based mortgage remains prohibited. Hungry-walls.com Review

Facilitating Haram: Paying a fee to facilitate an impermissible transaction is itself problematic. It contributes to and enables an activity that is against Islamic principles.
No Value in Prohibited: While the fee might be considered fair in a conventional market, for a Muslim, there is no permissible value in paying for a service that leads to riba.
Prioritizing Halal: The emphasis for a Muslim should always be on finding Sharia-compliant alternatives, even if they come with different fee structures e.g., profit margins in Murabaha or rental fees in Ijarah. The goal is to avoid riba entirely, not just to find the cheapest riba-based product.

How to Cancel Sturleymortgages.com Engagement Hypothetical Scenario

While the nature of Sturleymortgages.com’s services means a “subscription” or “free trial” in the SaaS sense isn’t applicable, it’s important to consider how one would disengage from their services, particularly if a Muslim individual inadvertently initiated contact or sought advice.

This section will outline hypothetical steps for disengagement within a conventional mortgage advisory context, emphasizing the Muslim’s imperative to avoid prohibited transactions.

Understanding the Engagement Model

Sturley Mortgages operates as a service provider, specifically a mortgage broker. Engagement would typically involve:

Initial Inquiry: A client contacts them via phone or through a website inquiry form for advice or to learn more about services.
Consultation: Discussions regarding financial circumstances, needs, and potential mortgage options.
Application Process: If the client wishes to proceed, the broker would gather documentation and submit applications to lenders on their behalf.
Fee Payment: As stated, a fee up to £375 is only payable if a mortgage completes.

Steps to Disengage from Services

If a person, especially a Muslim, realizes that the services offered are not Sharia-compliant and wishes to cease engagement, the steps would be straightforward as no ongoing “subscription” is involved.

Step 1: Immediate Communication

Direct Contact: The most effective way to disengage is to directly contact Sturley Mortgages by phone 01625 836 818 or email if an email address is provided for general inquiries or direct contact with the assigned broker.
Clear Statement: Clearly state that you wish to withdraw your inquiry and will not be proceeding with their services.
No Obligation: Since their fee is contingent on mortgage completion, there should be no financial obligation if no mortgage has been finalized.

Step 2: Confirmation of Withdrawal

Written Confirmation Optional but Recommended: While a phone call might suffice for early disengagement, it’s good practice to follow up with a brief email confirming your decision, especially if any personal financial information has been shared. This creates a clear record.
Data Handling: You might also inquire about their policy on deleting any personal data they have collected, citing GDPR General Data Protection Regulation rights if applicable in the UK.

Step 3: Cease Providing Information

Stop Submitting Documents: Do not provide any further financial documents, personal details, or sign any agreements.
Decline Further Consultations: Politely decline any subsequent calls or meeting requests.

No “Subscription” or “Free Trial” Cancellation

It’s important to reiterate that Sturleymortgages.com does not operate on a subscription or free trial model akin to software services.

Service-Based Fee: Their fee structure max £375, only upon completion means that disengagement before a mortgage completes incurs no direct financial cost from them.
No Ongoing Commitment: There are no recurring charges or cancellation penalties for simply withdrawing from their advisory process.

The Imperative for a Muslim: Avoiding Riba

For a Muslim, disengaging from any interest-based financial service is not just a matter of convenience or cost, but a religious obligation.

Repentance and Rectification: If one has inadvertently started engaging with such services, the immediate action should be to withdraw and seek Allah’s forgiveness Tawbah.
Seeking Halal Alternatives: The disengagement should be followed by a proactive search for Sharia-compliant alternatives for home financing, as discussed in previous sections e.g., Murabaha, Musharakah Mutanaqisah, Ijarah Muntahia Bittamleek offered by Islamic banks.
Education: Continued education about Islamic finance principles helps prevent future accidental engagements with impermissible transactions. Resources from Islamic finance scholars and reputable institutions can be invaluable.

Sturleymortgages.com vs. Halal Finance Providers

Comparing Sturleymortgages.com with Sharia-compliant finance providers isn’t a direct “apples-to-apples” comparison in terms of product, but rather a fundamental divergence in underlying principles. While Sturleymortgages.com operates within the conventional, interest-based financial system, Halal Finance Providers adhere strictly to Islamic law, avoiding riba interest, gharar excessive uncertainty, and maysir gambling. This section will highlight these core differences to underscore why a Muslim would unequivocally choose the latter.

Fundamental Principle: Interest Riba

This is the most critical distinction.

Sturleymortgages.com: Operates by facilitating conventional mortgages and loans, which are inherently interest-based.
- Basis: Loans accrue interest, where money generates more money without direct productive effort or shared risk in a tangible asset.
- Outcome for Borrower: Debt typically increases over time due to interest, and the repayment amount is higher than the principal borrowed.
- Islamic View: Strictly forbidden. Participation in interest-based transactions is considered a major sin in Islam.
Halal Finance Providers e.g., Al Rayan Bank, Guidance Residential: Strictly avoid interest in all their products.
- Basis: Transactions are based on tangible assets, real economic activity, and shared risk/profit. They use models like Murabaha cost-plus sale, Musharakah Mutanaqisah diminishing partnership, and Ijarah leasing.
- Outcome for Borrower: Payments are fixed or clearly defined, and the total cost is known upfront, representing a profit margin or rental income, not interest on a loan.
- Islamic View: Permissible and encouraged as they align with divine guidance and promote ethical economic practices.

Risk Sharing vs. Risk Transfer

The approach to risk is another significant differentiator.

Sturleymortgages.com:
- Risk Model: Primarily risk transfer. The lender aims to transfer as much risk as possible to the borrower. The lender earns interest regardless of the success or failure of the borrower’s venture e.g., if a buy-to-let property doesn’t generate sufficient rent.
- Default: In case of default, the borrower faces severe penalties, and assets like the home can be repossessed, while the lender largely recovers their capital plus accrued interest.
Halal Finance Providers:
- Risk Model: Emphasize risk sharing especially in Musharakah. The financial institution shares the risk with the client, particularly in partnership-based models. In Murabaha and Ijarah, the institution takes ownership of the asset first, bearing the risk of its purchase before sale/lease.
- Partnership: In Musharakah, both parties bear profit and loss, fostering a sense of mutual responsibility.

Transparency and Ethical Considerations

Sturleymortgages.com: Aims for transparency regarding fees and regulatory compliance within the conventional system. However, the fundamental ethical issue of interest remains unaddressed.
- Regulatory Compliance: Regulated by the FCA, which focuses on consumer protection within conventional financial frameworks.
- Ethical Stance: Neutral on religious ethics, as it operates purely on secular financial principles.
Halal Finance Providers: Operate with a higher level of transparency regarding the Sharia compliance of their products, often with Sharia supervisory boards.
- Sharia Compliance: Every product and transaction is scrutinized by independent Sharia scholars to ensure adherence to Islamic law.
- Ethical Stance: Deeply rooted in Islamic ethics, promoting fairness, justice, and societal well-being. This includes avoiding speculative transactions and engaging in real economic activity.

Products Offered

*   Mortgages: Residential, Buy to Let, Remortgaging all conventional, interest-based.
*   Insurance: Conventional life assurance, critical illness, income protection, building & contents insurance may contain *gharar* and *riba* elements.
*   Home Finance: Murabaha, Musharakah Mutanaqisah, Ijarah Muntahia Bittamleek.
*   Insurance: Takaful Islamic insurance – based on mutual contributions and cooperation, avoiding *gharar* and *riba*.
*   Other Products: Sharia-compliant savings accounts, investment funds, business financing, all structured to avoid interest.

In summary, while Sturleymortgages.com might be a reputable conventional broker, its services are fundamentally incompatible with Islamic financial principles. Squarebath.uk Review

For a Muslim, the choice is clear: prioritize Halal Finance Providers who offer ethical, Sharia-compliant alternatives for home ownership and other financial needs, ensuring peace of mind and adherence to divine commands.

FAQ

What is Sturleymortgages.com?

Sturleymortgages.com is the website for Sturley Mortgages, an independent mortgage broker based in Macclesfield, Cheshire, UK, established in 2001, specializing in residential and buy-to-let mortgages, as well as various insurance products.

Is Sturleymortgages.com regulated?

Yes, Sturley Mortgages Ltd is Authorized and Regulated by the Financial Conduct Authority FCA in the UK, with FCA number 463639 and Company number 06026729.

Does Sturleymortgages.com charge a fee for its services?

Yes, Sturley Mortgages may charge a fee for its advice, which will not be greater than £375 and is only payable if your new mortgage completes.

What types of mortgages does Sturleymortgages.com offer?

Sturleymortgages.com offers advice and recommendations for Residential First and Second Charge Mortgages, Buy to Let Mortgages, and Remortgaging services.

Does Sturleymortgages.com specialize in certain clients?

Yes, they particularly specialize in mortgages for the Self-Employed and for Contractors, recognizing their unique financial circumstances.

What insurance products does Sturleymortgages.com offer?

They offer a range of insurance solutions including building and contents insurance, life assurance life cover, critical illness cover, and income protection.

Is Sturleymortgages.com suitable for Muslims seeking home finance?

No, Sturleymortgages.com is not suitable for Muslims seeking home finance as their services involve conventional interest-based mortgages, which are prohibited in Islam riba.

What is Riba interest in Islam?

Riba, or interest, is any excess or addition taken on a loan over and above the principal amount and is strictly forbidden in Islamic finance due to its exploitative nature.

What are some Sharia-compliant alternatives to conventional mortgages?

Sharia-compliant alternatives include Murabaha cost-plus financing, Musharakah Mutanaqisah diminishing partnership, and Ijarah Muntahia Bittamleek lease-to-own. Btcbull.online Review

Where can I find Sharia-compliant home finance providers?

You can find Sharia-compliant home finance providers through Islamic banks and financial institutions such as Al Rayan Bank and Gatehouse Bank in the UK, or Guidance Residential in the USA.

Does Sturleymortgages.com offer Takaful Islamic insurance?

No, Sturleymortgages.com offers conventional insurance products, not Takaful, which is the Sharia-compliant alternative based on mutual cooperation.

How long has Sturley Mortgages been in business?

Sturley Mortgages has been in business since 2001, indicating over two decades of experience in the mortgage brokerage sector.

Can Sturleymortgages.com assist clients outside of Cheshire and Greater Manchester?

Yes, while they mainly serve Cheshire and Greater Manchester areas, they state they can act for clients wherever they are in the UK.

What is the primary disclaimer on Sturleymortgages.com regarding mortgages?

The primary disclaimer states: “Your home or property may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.”

Are Buy to Let and Commercial Loan services regulated by the FCA through Sturley Mortgages?

No, the website explicitly states: “Buy to Let and Commercial Loan services are not regulated by the Financial Conduct Authority.”

How can I contact Sturleymortgages.com?

You can contact Sturleymortgages.com by calling them on 01625 836 818 or by using the “Get in touch” section on their website.

What is the “personal touch” offered by Sturley Mortgages?

Sturley Mortgages is a family business managed by brother and sister team Garry and Lucy Sturley, which contributes to their emphasis on providing an “outstanding service with a personal touch.”

Is it possible to cancel engagement with Sturleymortgages.com if I’ve only made an inquiry?

Yes, as their fee is only payable if a mortgage completes, you can disengage by simply informing them you will not be proceeding, ideally via a phone call and an optional follow-up email.

Does Sturleymortgages.com provide any financial education resources?

The website links to external resources like www.moneyadviceservice.org.uk, which could provide general financial advice, but it does not offer specific Islamic finance education. Axilweb.com Review

What is the registered address of Sturley Mortgages?

The registered address for Sturley Mortgages is 22 Pownall Street, Macclesfield, SK10 1DF.